Top 11 Finance Coordinator Certifications

Certifications for a finance coordinator are important in the job market because they demonstrate to employers that the individual has the necessary knowledge and skills to perform the job successfully. They also show potential employers that the individual is committed to their profession and has taken the initiative to gain additional qualifications. Certifications provide a competitive edge when applying for jobs, as they demonstrate that an individual is well-qualified and has kept up with industry trends. In addition, certifications can be used to negotiate higher salaries, as employers are more likely to pay a premium for someone who has proven their expertise through certification.

This article reviews some of the most beneficial certifications for Finance Coordinators and explains how they can help to enhance and advance their career.

What are Finance Coordinator Certifications?

Finance Coordinator Certification is a professional credentialing program that provides individuals with the knowledge and skills needed to effectively manage financial operations in a variety of organizations. This certification recognizes the importance of understanding financial concepts, processes, and procedures that are used to ensure effective financial management. The certification is designed to equip professionals with the necessary skills to develop, implement, and monitor financial plans and strategies that align with organizational objectives.

The certification also helps individuals gain an understanding of the principles of accounting, budgeting, forecasting, and investment analysis. It covers topics such as cash flow management, asset management, taxation issues, risk management, internal control systems, and more. With this knowledge base in place, finance coordinators can provide valuable support to their organization’s leadership team by helping them make informed decisions regarding their finances.

In addition to providing a comprehensive understanding of finance-related topics, Finance Coordinator Certification also offers specialized training on industry best practices for managing finances. This includes learning how to develop budgets according to organizational goals and monitoring performance against those goals. Other topics covered in the program include developing financial reports for decision making purposes; developing audit plans; implementing internal controls; managing accounts payable/receivable; and negotiating financing agreements.

Finance Coordinator Certification can be beneficial for both established professionals looking to enhance their skillset as well as those seeking entry into the field of finance coordination. It can help those already working in finance-related roles become better prepared to handle higher levels of responsibility within their organizations. For new entrants into the field it provides an invaluable opportunity to learn best practices from experienced professionals while gaining recognition in their field through certification.

Pro Tip: Make sure to research the requirements for finance coordinator certification in your state or country. Many states and countries have different regulations and requirements for certification, so it's important to make sure you understand the process before beginning your certification journey.

Related: What does a Finance Coordinator do?

Top 11 Finance Coordinator Certifications

Here’s our list of the best certifications available to Finance Coordinators today.

1. Certified Financial Planner (CFP)

Certified Financial Planner (CFP) is a professional designation given by the Certified Financial Planner Board of Standards, Inc. (CFP Board). It is a certification that demonstrates an individual has met certain standards of education, experience, and ethics in providing financial planning services.

The CFP certification process involves three main components: education, examination, and experience. To become certified, individuals must complete a CFP Board-approved educational program in financial planning and pass the CFP Certification Examination. Additionally, they must have at least three years of full-time professional experience in personal financial planning or related areas before they can apply for certification.

It typically takes two to four years to complete the entire process and receive the CFP designation. The cost of obtaining the CFP designation varies depending on the type of educational program you choose and any additional exam preparation materials you may need to purchase. Generally speaking, it can range from $2,000 - $6,000 USD for tuition alone.

2. Chartered Financial Analyst (CFA)

The Chartered Financial Analyst (CFA) designation is a professional credential awarded by the CFA Institute to investment and financial professionals. It signifies that the holder has met certain standards of knowledge and experience in the field, and has passed a series of rigorous exams.

It typically takes four years to complete all three levels of the CFA program. The first two levels are offered twice a year, while Level III is offered once a year. In order to pass each level, candidates must demonstrate mastery of topics such as economics, accounting, portfolio management, equity analysis, fixed income analysis and derivatives.

To get started on your path to becoming a CFA charterholder, you must meet the eligibility requirements set forth by the CFA Institute. These include having at least four years of qualified work experience in an investment-related role or completing an undergraduate degree with a concentration in finance-related courses. Once you have met these requirements, you can register for the CFA Program through their website and begin studying for Level I of the exam.

The cost for registering for each level varies depending on when you register and whether or not you are taking advantage of any discounts or special offers available from the CFA Institute at that time. Generally speaking, it will cost around $1,000 USD per level to register for the exams and receive study materials from them. Additionally, there may be additional costs associated with self-study materials and review courses which vary depending on which provider you choose to use.

3. Certified Public Accountant (CPA)

A Certified Public Accountant (CPA) is a professional designation given to individuals who have met the educational, experience, and examination requirements set forth by the state in which they wish to practice. CPAs are licensed by their respective state boards of accountancy and must adhere to a code of professional conduct.

In order to become a CPA, individuals must complete a minimum of 150 semester hours of college education, including a concentration in accounting and business-related courses. In addition, applicants must pass the Uniform CPA Exam administered by the American Institute of Certified Public Accountants (AICPA). Depending on the state, additional requirements such as ethics exams or continuing education may also be necessary.

The length of time it takes to become a CPA varies from individual to individual based on their educational background and experience. Generally speaking, it can take anywhere from two to four years to complete all of the requirements for licensure.

The cost associated with becoming a CPA depends on several factors such as tuition costs for college courses or exam fees. Most states require an application fee when submitting an application for licensure which can range from $50-$200 depending on the state board's requirements. Additionally, some states may require applicants to purchase malpractice insurance prior to licensure which can cost up to $500 per year.

4. Certified Investment Management Analyst (CIMA)

Certified Investment Management Analyst (CIMA) is a professional designation offered by the Investment Management Consultants Association (IMCA). It is designed to help financial advisors, investment consultants, and other professionals gain expertise in the field of investment management.

The CIMA certification requires that applicants pass a comprehensive exam that covers topics such as portfolio construction and management, risk management, asset allocation, and performance measurement. The exam consists of 200 multiple-choice questions and takes approximately four hours to complete.

To be eligible for the CIMA designation, applicants must have at least three years of experience in the financial services industry or related fields. They must also have completed IMCA’s Professional Education Program or an equivalent program approved by IMCA.

The cost to obtain the CIMA certification varies depending on whether you are taking the exam online or in person. The online exam costs $695 USD while the in-person exam costs $895 USD. In addition to these fees, there is also an annual renewal fee of $150 USD to maintain your certification status.

5. Certified Treasury Professional (CTP)

Certified Treasury Professional (CTP) is a professional certification awarded by the Association for Financial Professionals (AFP). It is designed to recognize individuals who have demonstrated mastery of the core knowledge and skills required to effectively manage an organization’s treasury function. The CTP designation is widely recognized as the premier certification in corporate finance and treasury, and is held by thousands of professionals around the world.

The CTP exam consists of 175 multiple-choice questions covering topics such as cash management, investments, foreign exchange, risk management, financial analysis, and more. To be eligible to take the exam, applicants must have at least three years of relevant experience in a treasury or finance role. The exam takes approximately four hours to complete and can be taken at any Prometric testing center.

The cost of obtaining the CTP designation depends on whether you are an AFP member or non-member. For members, the fee is $450; for non-members it is $595. Additionally, there are study materials available from AFP that can help prepare you for the exam which range in price from $50 - $300 depending on which package you choose.

6. Chartered Alternative Investment Analyst (CAIA)

Chartered Alternative Investment Analyst (CAIA) is a professional designation for individuals who specialize in alternative investments. It is the only globally recognized credential in the alternative investment industry and is offered by the Chartered Alternative Investment Analyst Association (CAIAA). The CAIA program was developed to provide a comprehensive education on alternative investments, including hedge funds, private equity, commodities, and real estate.

It takes approximately two years to complete the CAIA program and obtain the designation. The program consists of two levels: Level I and Level II. Level I covers topics such as financial markets, portfolio management, quantitative methods, risk management and alternative investments. Level II focuses on more specialized topics such as hedge fund strategies, private equity analysis and real estate investing.

To get the CAIA designation, you must pass both Levels I and II of the exam. You may also be required to have at least three years of relevant experience in the field before applying for certification.

The cost of obtaining your CAIA designation varies depending on where you take your exams and whether you choose to enroll in an online or classroom-based course. Generally speaking, it costs around $2,000-$3,000 USD to take both exams plus any additional fees associated with enrollment in an online or classroom-based course.

7. Certified Financial Manager (CFM)

Certified Financial Manager (CFM) is a professional designation awarded by the Institute of Certified Financial Managers (ICFM). The CFM designation is designed to recognize individuals who have demonstrated proficiency in financial management. It is intended for those who are responsible for the planning, implementation, and oversight of financial activities within their organization.

The CFM designation requires applicants to pass an exam that covers topics such as accounting principles, financial analysis and reporting, corporate finance, investments, and risk management. Applicants must also have at least two years of experience in a financial management role or related field.

The CFM exam is offered twice a year in April and October. It takes approximately four hours to complete the exam. The cost of taking the exam is $350 USD.

In order to obtain the CFM designation, applicants must pass the exam with a score of 70% or higher and submit proof of their work experience. Once these requirements are met, applicants will receive their certification from ICFM.

8. Certified Internal Auditor (CIA)

Certified Internal Auditor (CIA) is a professional certification offered by the Institute of Internal Auditors (IIA). It is designed to recognize individuals who demonstrate the knowledge and skills necessary to perform internal auditing in an organization. The CIA designation is recognized worldwide as a symbol of excellence in internal auditing.

To become a Certified Internal Auditor, candidates must meet certain eligibility requirements and pass three examinations. The exams cover topics such as risk management, financial management, operations management, and governance. Candidates must also have at least two years of professional experience in internal auditing or related fields.

The process to become a Certified Internal Auditor typically takes between six months and one year depending on the individual's study schedule and other commitments.

To get started, candidates must first register with IIA Global and pay the registration fee which is currently $250 USD. After registering, candidates can purchase study materials from IIA Global or create their own study plan using resources available online. Once the candidate has completed their studies and feels ready to take the exams, they can register for them through IIA Global's website.

The cost for taking all three exams is currently $1,050 USD for members of IIA Global and $1,400 USD for non-members. This cost does not include any additional fees associated with rescheduling or retaking an exam if necessary.

9. Chartered Global Management Accountant (CGMA)

Chartered Global Management Accountant (CGMA) is a professional designation awarded by the Association of International Certified Professional Accountants (AICPA) and Chartered Institute of Management Accountants (CIMA). It recognizes individuals who have achieved a high level of expertise in the field of management accounting. The CGMA designation is recognized worldwide as the premier credential for management accountants, providing assurance to employers that holders of the credential possess the knowledge and skills necessary to help their organizations succeed.

It typically takes two years to complete the CGMA program, including passing all required exams. To get the CGMA designation, you must meet certain educational requirements and pass a comprehensive exam. You must also have at least three years of relevant work experience in management accounting or related fields.

The cost for obtaining the CGMA designation varies depending on your country and region. In general, it will cost between $1,000-$2,000 USD for tuition fees and exam fees. This does not include any additional costs associated with study materials or other resources needed to prepare for the exam.

Overall, obtaining the CGMA designation is an investment in your career that can pay off significantly over time by increasing your earning potential and improving your job prospects.

10. Certified Risk Management Assurance Professional (CRMA)

The Certified Risk Management Assurance Professional (CRMA) is a professional certification program designed to provide risk management professionals with the knowledge and skills necessary to effectively manage risk in their organization. The CRMA program is offered by the Global Association of Risk Professionals (GARP).

It takes approximately eight months to complete the CRMA program, which consists of three parts: an online course, an online exam, and a practical assessment. The online course covers topics such as enterprise risk management, financial risk management, operational risk management, and more. After completing the online course, candidates must pass an online exam that tests their understanding of the material covered in the course. Finally, they must complete a practical assessment that requires them to apply their knowledge in a real-world setting.

To become certified as a CRMA professional, candidates must meet certain eligibility requirements. These include having at least five years of professional experience in risk management or related fields; having a bachelor’s degree or equivalent; and passing both the online course and exam with a minimum score of 70%.

The cost for the CRMA program varies depending on where you take it and how you choose to pay for it. However, most programs cost between $2,000-$3,000 USD.

11. Accredited Financial Counselor (AFC).

Accredited Financial Counselor (AFC) is a certification program offered by the Association for Financial Counseling and Planning Education (AFCPE). The AFC certification is designed to provide financial counselors with the knowledge and skills necessary to help individuals and families make sound financial decisions.

The AFC certification requires applicants to complete a comprehensive training program that includes coursework, field experience, and an exam. The program typically takes 18-24 months to complete. The coursework covers topics such as budgeting, debt management, credit counseling, retirement planning, insurance planning, and more.

To get certified as an Accredited Financial Counselor (AFC), you must meet certain eligibility requirements. These include having a bachelor’s degree in any field from an accredited institution; two years of full-time work experience in the financial services industry; completion of at least 30 hours of approved AFCPE coursework; completion of at least 100 hours of supervised practical experience in financial counseling; and passing the AFC certification exam.

The cost of becoming an Accredited Financial Counselor (AFC) varies depending on the number of courses taken and other factors such as travel expenses for required field experiences. Generally speaking, it can cost anywhere from $2,000-$3,000 to become certified as an AFC.

Do You Really Need a Finance Coordinator Certificate?

The short answer is no, you do not need a finance coordinator certificate for most jobs in the financial sector. However, if you are looking to move up in the world of finance or gain greater responsibility and authority, a finance coordinator certificate may be beneficial. A finance coordinator certificate can provide you with the knowledge and skills necessary to work as a financial advisor or manager. It can also help you to better understand the complexities of financial markets and how to make sound decisions when it comes to investing money.

Having a finance coordinator certificate can also give employers confidence that you have the necessary qualifications and experience to handle their finances responsibly. By obtaining this certification, employers will see that you are capable and qualified for more complex roles within the industry. Furthermore, it may open doors for higher-level positions such as financial analyst or corporate treasurer.

Overall, having a finance coordinator certificate may be beneficial if you are looking to move up in your career or gain greater responsibility within the field of finance. However, it is important to remember that this certification is not necessary for all jobs within the financial sector; employers will assess your overall experience and qualifications when considering whether or not they should hire you. Therefore, it is important to ensure that you have the necessary experience and qualifications before applying for any job in the financial sector.

Related: Finance Coordinator Resume Examples

FAQs About Finance Coordinator Certifications

1. What qualifications do I need to become a Finance Coordinator?

Answer: To become a Finance Coordinator, you will typically need at least a bachelor’s degree in finance, accounting, or a related field. In some cases, employers may require additional certifications such as the Certified Financial Planner (CFP) certification.

2. How long does it take to become certified as a Finance Coordinator?

Answer: The amount of time it takes to become certified depends on the type of certification you are pursuing and the amount of study and experience required. Generally speaking, most certifications can be completed within 6-12 months if studying full-time.

3. Are there any prerequisites for becoming a Finance Coordinator?

Answer: Yes, depending on the type of certification you are pursuing, you may need to meet certain prerequisites such as having a bachelor’s degree in finance or accounting and/or having several years of experience in the field before being eligible for certification.

4. What types of certifications are available for Finance Coordinators?

Answer: There are several different types of certifications available for finance coordinators including the Certified Financial Planner (CFP) certification, Chartered Financial Analyst (CFA) certification, Certified Management Accountant (CMA) certification, and Registered Financial Consultant (RFC) designation among others.

5. Is continuing education required for maintaining my Finance Coordinator Certification?

Answer: Yes, many certifying organizations require that their members obtain ongoing continuing education credits in order to maintain their certifications and stay up-to-date on industry trends and best practices.